Portland USDA Loan Rates, Closing Costs & Stats
PORTLAND-VANCOUVER-HILLSBORO, OR-WA
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Portland's 38 lenders originated 91 USDA loans during 2022. The total origination value was $33,935,000, with an average USDA loan value of $372,912.
Portland USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Portland
averaged
5.81%
for the week of 2023-03-17, compared to the national average (all USDA variants) of
6.497% for the same period.
Portland's average USDA mortgage closing costs are $8,326.
The average rate for the prior week (2023-03-10) was
6.02% and
one month ago for the week of 2023-02-10, the
average rate was 5.59%.
The average rate one year ago was 3.48%.
For refis of the same type during the week of 2023-03-17, the average rate
was 5.01%.
Portland USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Portland level.
The top Portland USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
14 USDA loans originated. Their average total fees are
$12,733, which is $1,515
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Portland USDA lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY ($12,733), .
The lowest rate Portland USDA lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY (3.46%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $475,000 (3.9%) | $623,407 (3.6%) | 1.76 | 4,657 |
2018-02-01 | $482,450 (2.1%) | $637,431 (4.0%) | 1.75 | 4,461 |
2018-03-01 | $495,000 (3.1%) | $638,358 (2.1%) | 1.74 | 4,776 |
2018-04-01 | $499,000 (2.9%) | $637,321 (1.7%) | 1.69 | 5,397 |
2018-05-01 | $499,450 (2.0%) | $638,614 (1.6%) | 1.67 | 6,285 |
2018-06-01 | $495,000 (1.8%) | $628,714 (1.6%) | 1.65 | 7,150 |
2018-07-01 | $482,500 (0.5%) | $615,394 (1.5%) | 1.61 | 8,120 |
2018-08-01 | $478,100 (0.7%) | $603,309 (0.9%) | 1.60 | 8,643 |
2018-09-01 | $469,960 (0.2%) | $592,771 (0.3%) | 1.58 | 8,970 |
2018-10-01 | $469,575 (0.4%) | $589,575 (-0.2%) | 1.59 | 8,711 |
2018-11-01 | $469,850 (0.0%) | $592,584 (-0.9%) | 1.59 | 8,086 |
2018-12-01 | $469,900 (-1.1%) | $600,478 (-2.0%) | 1.62 | 6,959 |
2019-01-01 | $472,425 (-0.5%) | $602,934 (-3.3%) | 1.63 | 6,177 |
2019-02-01 | $477,000 (-1.1%) | $611,563 (-4.1%) | 1.61 | 6,030 |
2019-03-01 | $480,143 (-3.0%) | $610,873 (-4.3%) | 1.57 | 6,291 |
2019-04-01 | $475,643 (-4.7%) | $603,741 (-5.3%) | 1.51 | 6,851 |
2019-05-01 | $478,050 (-4.3%) | $604,266 (-5.4%) | 1.49 | 7,404 |
2019-06-01 | $479,000 (-3.2%) | $600,952 (-4.4%) | 1.50 | 8,318 |
2019-07-01 | $474,950 (-1.6%) | $598,452 (-2.8%) | 1.49 | 8,610 |
2019-08-01 | $473,291 (-1.0%) | $598,142 (-0.9%) | 1.50 | 8,507 |
2019-09-01 | $470,877 (0.2%) | $596,670 (0.7%) | 1.51 | 8,265 |
2019-10-01 | $464,500 (-1.1%) | $590,408 (0.1%) | 1.50 | 7,962 |
2019-11-01 | $462,900 (-1.5%) | $592,627 (0.0%) | 1.52 | 6,951 |
2019-12-01 | $465,950 (-0.8%) | $597,078 (-0.6%) | 1.55 | 5,662 |
2020-01-01 | $471,000 (-0.3%) | $609,065 (1.0%) | 1.57 | 4,876 |
2020-02-01 | $479,000 (0.4%) | $615,565 (0.7%) | 1.56 | 4,437 |
2020-03-01 | $479,450 (-0.1%) | $620,112 (1.5%) | 1.50 | 4,825 |
2020-04-01 | $475,025 (-0.1%) | $607,185 (0.6%) | 1.49 | 5,684 |
2020-05-01 | $487,998 (2.1%) | $616,851 (2.1%) | 1.48 | 5,753 |
2020-06-01 | $499,000 (4.2%) | $630,805 (5.0%) | 1.47 | 5,377 |
2020-07-01 | $499,900 (5.3%) | $642,403 (7.3%) | 1.45 | 5,135 |
2020-08-01 | $499,950 (5.6%) | $650,641 (8.8%) | 1.43 | 5,060 |
2020-09-01 | $499,975 (6.2%) | $654,558 (9.7%) | 1.43 | 4,749 |
2020-10-01 | $510,000 (9.8%) | $660,928 (11.9%) | 1.46 | 4,500 |
2020-11-01 | $512,500 (10.7%) | $669,609 (13.0%) | 1.49 | 3,849 |
2020-12-01 | $507,500 (8.9%) | $673,862 (12.9%) | 1.51 | 2,960 |
2021-01-01 | $499,900 (6.1%) | $682,327 (12.0%) | 1.49 | 2,487 |
2021-02-01 | $502,595 (4.9%) | $690,987 (12.3%) | 1.46 | 2,244 |
2021-03-01 | $511,950 (6.8%) | $683,665 (10.3%) | 1.45 | 2,404 |
2021-04-01 | $525,000 (10.5%) | $693,200 (14.2%) | 1.42 | 2,637 |
2021-05-01 | $549,900 (12.7%) | $717,340 (16.3%) | 1.45 | 2,851 |
2021-06-01 | $554,950 (11.2%) | $726,910 (15.2%) | 1.46 | 3,337 |
2021-07-01 | $555,000 (11.0%) | $731,675 (13.9%) | 1.46 | 3,759 |
2021-08-01 | $550,000 (10.0%) | $723,151 (11.1%) | 1.46 | 3,854 |
2021-09-01 | $550,000 (10.0%) | $724,316 (10.7%) | 1.46 | 3,997 |
2021-10-01 | $550,000 (7.8%) | $720,993 (9.1%) | 1.47 | 3,910 |
2021-11-01 | $550,000 (7.3%) | $724,789 (8.2%) | 1.47 | 3,128 |
2021-12-01 | $549,250 (8.2%) | $727,860 (8.0%) | 1.49 | 2,379 |
2022-01-01 | $550,000 (10.0%) | $739,131 (8.3%) | 1.49 | 1,837 |
2022-02-01 | $561,700 (11.8%) | $736,543 (6.6%) | 1.46 | 1,926 |
2022-03-01 | $574,375 (12.2%) | $737,242 (7.8%) | 1.44 | 2,145 |
2022-04-01 | $585,000 (11.4%) | $755,066 (8.9%) | 1.39 | 2,347 |
2022-05-01 | $597,450 (8.7%) | $759,355 (5.9%) | 1.37 | 3,418 |
2022-06-01 | $599,995 (8.1%) | $762,247 (4.9%) | 1.34 | 4,393 |
2022-07-01 | $599,000 (7.9%) | $753,872 (3.0%) | 1.35 | 5,654 |
2022-08-01 | $590,374 (7.3%) | $745,501 (3.1%) | 1.36 | 5,815 |
2022-09-01 | $589,900 (7.3%) | $762,158 (5.2%) | 1.38 | 5,842 |
2022-10-01 | $579,900 (5.4%) | $760,849 (5.5%) | 1.36 | 5,856 |
2022-11-01 | $582,480 (5.9%) | $769,531 (6.2%) | 1.40 | 5,514 |
2022-12-01 | $589,900 (7.4%) | $779,770 (7.1%) | 1.46 | 4,559 |
2023-01-01 | $597,450 (8.6%) | $793,650 (7.4%) | 1.47 | 3,813 |
2023-02-01 | $607,050 (8.1%) | $812,739 (10.3%) | 1.46 | 3,395 |
Portland's median listing price comes in at 146% of the national average.
Portland's average listing price for 2023-02-01 was $812,739, a difference of $76,196 (10.3%) versus the prior year and $19,089 versus the prior month.
For the 2023-02-01 period, Portland had 3,395 MLS listings, a difference of -418 listings (-11%) versus the prior month and 1,469 listings (76%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 65 days | 2,265 sqft |
2018-02-01 | 44 days | 2,273 sqft |
2018-03-01 | 36 days | 2,265 sqft |
2018-04-01 | 32 days | 2,274 sqft |
2018-05-01 | 31 days | 2,275 sqft |
2018-06-01 | 33 days | 2,248 sqft |
2018-07-01 | 37 days | 2,216 sqft |
2018-08-01 | 38 days | 2,187 sqft |
2018-09-01 | 45 days | 2,156 sqft |
2018-10-01 | 50 days | 2,142 sqft |
2018-11-01 | 57 days | 2,149 sqft |
2018-12-01 | 68 days | 2,142 sqft |
2019-01-01 | 70 days | 2,136 sqft |
2019-02-01 | 48 days | 2,156 sqft |
2019-03-01 | 41 days | 2,146 sqft |
2019-04-01 | 36 days | 2,132 sqft |
2019-05-01 | 33 days | 2,140 sqft |
2019-06-01 | 37 days | 2,159 sqft |
2019-07-01 | 41 days | 2,149 sqft |
2019-08-01 | 44 days | 2,136 sqft |
2019-09-01 | 48 days | 2,130 sqft |
2019-10-01 | 51 days | 2,112 sqft |
2019-11-01 | 64 days | 2,099 sqft |
2019-12-01 | 76 days | 2,096 sqft |
2020-01-01 | 77 days | 2,110 sqft |
2020-02-01 | 59 days | 2,104 sqft |
2020-03-01 | 44 days | 2,095 sqft |
2020-04-01 | 45 days | 2,095 sqft |
2020-05-01 | 56 days | 2,106 sqft |
2020-06-01 | 52 days | 2,120 sqft |
2020-07-01 | 44 days | 2,107 sqft |
2020-08-01 | 43 days | 2,100 sqft |
2020-09-01 | 51 days | 2,079 sqft |
2020-10-01 | 58 days | 2,056 sqft |
2020-11-01 | 65 days | 2,048 sqft |
2020-12-01 | 66 days | 2,000 sqft |
2021-01-01 | 53 days | 1,942 sqft |
2021-02-01 | 39 days | 1,880 sqft |
2021-03-01 | 33 days | 1,904 sqft |
2021-04-01 | 31 days | 1,912 sqft |
2021-05-01 | 31 days | 1,948 sqft |
2021-06-01 | 28 days | 1,975 sqft |
2021-07-01 | 35 days | 1,976 sqft |
2021-08-01 | 37 days | 1,964 sqft |
2021-09-01 | 43 days | 1,961 sqft |
2021-10-01 | 43 days | 1,931 sqft |
2021-11-01 | 52 days | 1,907 sqft |
2021-12-01 | 50 days | 1,861 sqft |
2022-01-01 | 61 days | 1,852 sqft |
2022-02-01 | 29 days | 1,828 sqft |
2022-03-01 | 28 days | 1,834 sqft |
2022-04-01 | 27 days | 1,848 sqft |
2022-05-01 | 24 days | 1,928 sqft |
2022-06-01 | 25 days | 1,982 sqft |
2022-07-01 | 30 days | 2,000 sqft |
2022-08-01 | 37 days | 2,001 sqft |
2022-09-01 | 44 days | 1,995 sqft |
2022-10-01 | 45 days | 1,988 sqft |
2022-11-01 | 52 days | 1,995 sqft |
2022-12-01 | 65 days | 2,001 sqft |
2023-01-01 | 72 days | 2,020 sqft |
2023-02-01 | 54 days | 2,038 sqft |
Portland's median square footage for active listings during the 2023-02-01 period was 2,038 sqft. One year prior, the average listing was 1,828 sqft.